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Mar 20, 2013
03/13
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economy. that is down from 70%, 2-1/2 years ago. there is less confidence in the president's ability to fix it. 47% now. 51% last year. the dow is back on a winning streak. the industrial average up for second day in a row. gaining 56. s&p 500 finished ahead 10. nasdaq up 25. we learned idea what cyprus will not do to qualify for international bail-out of the troubled economy. with a tax on savings account out, the lawmakers are scrambling to come up with another plan. senior foreign affairs correspondent greg palkot tells us what is under consideration. >> the banks will remain closed for the rest of the week after a controversial plan to tap in to private savings to bankroll a bail-out rejected by the parliament. we are feeling easier because there might not be a levy on deposits. but the situation could get worse. the officials scram to believe come up with a plan "b" for the near bankrupt country. european union will not put up its share of the $20 billion bail-out without cyprus doing its bit. they offer to mortgage the assets
economy. that is down from 70%, 2-1/2 years ago. there is less confidence in the president's ability to fix it. 47% now. 51% last year. the dow is back on a winning streak. the industrial average up for second day in a row. gaining 56. s&p 500 finished ahead 10. nasdaq up 25. we learned idea what cyprus will not do to qualify for international bail-out of the troubled economy. with a tax on savings account out, the lawmakers are scrambling to come up with another plan. senior foreign...
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Mar 25, 2013
03/13
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the european economy is collapsing. if that clashes, what does it say versus state of the global economy? we are not insuelated against the global impacts. this could have a terrible impact on the fragile recovery. >> shannon: meaning if this is a last minute deal and they talk about negotiating through the night. sigh of relief. what is the downside? >> let's go back to what could have happened and the banks would collapse anyways. they were feeling the renallal effects. part of their problem is holding the greek debt. so you see a ripple effect. you will out in some other countries like spain. i think it continues to move out. this is a threat for the u.s. u.s. economy. we went through a period that it was calming down. we will continue to see hiccups. this cyprus thing is contained for now, though. >> shannon: how -- global economy these days, it seems like every, you know, flare-up. we will see and it will impact other players. there are dominoes. >> there are. it could be that the euro is not sustainable or split t
the european economy is collapsing. if that clashes, what does it say versus state of the global economy? we are not insuelated against the global impacts. this could have a terrible impact on the fragile recovery. >> shannon: meaning if this is a last minute deal and they talk about negotiating through the night. sigh of relief. what is the downside? >> let's go back to what could have happened and the banks would collapse anyways. they were feeling the renallal effects. part of...
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Mar 19, 2013
03/13
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on a continent with 16, 20 trillion of economy. that decides to under mind faith they have in the deposit, as if here was declared yes, you a safety deposit insurance. however we are going to take 10% of your savings tomorrow. it will disappear. it will cause run on bank. this could be a long fuse. in the state, they have a 50% tax break for small business and startups. >> listen to this. >> how would you feel if you made a decision four years ago you knew was legally correct and four years later a governing body said it's not correct and you owe us more money and we charge you interest on the money you didn't know you owed? >> bret: that is quite a story. >> it is. >> hard to have sympathy for some of the business owners. they backed a issue on the ballot that was also retroactive. but high taxes is bad for business so the low-tax state like texas draw in businesses with lower unemployment rate. >> this is why people leave california. state budgets are broke and they are trying to raise taxes and the states with the lowest taxatio
on a continent with 16, 20 trillion of economy. that decides to under mind faith they have in the deposit, as if here was declared yes, you a safety deposit insurance. however we are going to take 10% of your savings tomorrow. it will disappear. it will cause run on bank. this could be a long fuse. in the state, they have a 50% tax break for small business and startups. >> listen to this. >> how would you feel if you made a decision four years ago you knew was legally correct and...
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Mar 22, 2013
03/13
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ultimately it will be a drag on the economy. i think ultimately after it hits and you get a train wreck and all the inefficiencies people will say in a couple of years, why don't we adopt a canadian system? cut out the middleman. and stop all the waste. simply have a simple system. government is completely in control anyway. have it done honestly and cleanly. >> shannon: was that the plan all along? >> i was going to add to that the funding problem is that you have the states, who opted out and don't want to set up the exchanges. the administration tried to get funding from congress to set them up themselves. that is another, congress said no. so that is another problem. another complexity that is going to add to the problem at a time when people are told by the way, they are breaking the law if they don't have insurance. i see a lot of practical problems down the road. >> shannon: these have fiscal implications. talk about the budget. we want to get to that as well. today senate for first time in four years around midnight goin
ultimately it will be a drag on the economy. i think ultimately after it hits and you get a train wreck and all the inefficiencies people will say in a couple of years, why don't we adopt a canadian system? cut out the middleman. and stop all the waste. simply have a simple system. government is completely in control anyway. have it done honestly and cleanly. >> shannon: was that the plan all along? >> i was going to add to that the funding problem is that you have the states, who...
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Mar 21, 2013
03/13
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. >> the stanford economy looked at the budget and said 500,000 jobs right away. this plan will protect and strengthen medicare. it begips, yes, by repealing obama care. >> the resolution passed 221 221-207. with ten republicans an all democrats voting against it. >> this is an uncompromising ideological approach to our budget issues. this also fails the test of taking a balanced approach. >> the senate is planning to vote on the ryan blueprint to hold republican feet to the fire. >> it was crafted by a hard right group in the house. and most republicans would rather run away from it. we saw that happen during the presidential campaign. we're not going to let them run. >> senate democrats favor budget chair patty murray's plan to raise taxes, increase spending and never come to balance. top republicans say it doesn't add up. >> that means more debt. fewer jobs. frankly much higher taxes from the american people. we certainly hope that the president will change his mind and submit a plan that actually balances the budget. >> the senate plans to vote on the dueling
. >> the stanford economy looked at the budget and said 500,000 jobs right away. this plan will protect and strengthen medicare. it begips, yes, by repealing obama care. >> the resolution passed 221 221-207. with ten republicans an all democrats voting against it. >> this is an uncompromising ideological approach to our budget issues. this also fails the test of taking a balanced approach. >> the senate is planning to vote on the ryan blueprint to hold republican feet to...
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Mar 18, 2013
03/13
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manufacturing and financial activitiles but in this case, the banks have holdings eight times the size of the economy of cyprus. >> bret: russians have $30 billion. >> right. a quarter of it are russians. they say we will tax people who live here but have money deposited here, stashed here to protect it from russia and they see it as an easy out. easy way to get money to satisfy the imf. in response to the imf making an effort to bail them out. that is why he said this is the best solution for us. we saw individuals on tape saying gosh, you know, violation of my property rights, et cetera. those are small time players in the large game. >> bret: but still getting money out of their account. >> they are. >> there is discussion of shifting that to the wealthier. depositors, in cyprus. this is all about russia. german secret service did a study not long ago that looked at the kind of deposits that were made in the cypriate banks from the russians in particular and concluded a lot of it was dirty money. germans don't want their taxpayers to be funding risky bets from russian alagarks. with an election in
manufacturing and financial activitiles but in this case, the banks have holdings eight times the size of the economy of cyprus. >> bret: russians have $30 billion. >> right. a quarter of it are russians. they say we will tax people who live here but have money deposited here, stashed here to protect it from russia and they see it as an easy out. easy way to get money to satisfy the imf. in response to the imf making an effort to bail them out. that is why he said this is the best...
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Mar 26, 2013
03/13
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. >> reporter: south-kay the, the biggest economy in africa. gleaming downtown. stadium from the success 206810 soccer world cup. state-of-the-art infrastructure. only a few decades ago, the country was the scene of deadly riots. against the impressive and racist apartheid regime. those protests would lead in the following years to peaceful transition to black majority led got. headed by icon nelson mandella. >> so it was a huge change. so, it was a massive movement. >> mbecki was activist at the time of transition. >> there was a huge number of lessons. most importantly, removing the conflicts from society. suddenly, the conflicts disappeared. the bonds disappeared. >> his brother also an activist would be the second post apartheid president after mandella. they help establish the most sophisticated government and restore south africa's place in the world. >> south africa was becoming a normal country and we could go about our business like anyone nellis the world. >> then attention turned to the problems at home. the challenges were huge. it's claimed many blac
. >> reporter: south-kay the, the biggest economy in africa. gleaming downtown. stadium from the success 206810 soccer world cup. state-of-the-art infrastructure. only a few decades ago, the country was the scene of deadly riots. against the impressive and racist apartheid regime. those protests would lead in the following years to peaceful transition to black majority led got. headed by icon nelson mandella. >> so it was a huge change. so, it was a massive movement. >> mbecki...